Spain: converging with the European Community:
Gespeichert in:
| Format: | Buch |
|---|---|
| Sprache: | English |
| Veröffentlicht: |
Washington, DC
Internat. Monetary Fund
1993
|
| Schriftenreihe: | International Monetary Fund: Occasional paper
101 |
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | 58 S. graph. Darst. |
| ISBN: | 1557753199 |
Internformat
MARC
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| 245 | 1 | 0 | |a Spain: converging with the European Community |c Michel Galy, Gonzalo Pastor, and Thierry Pujol |
| 264 | 1 | |a Washington, DC |b Internat. Monetary Fund |c 1993 | |
| 300 | |a 58 S. |b graph. Darst. | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 490 | 1 | |a International Monetary Fund: Occasional paper |v 101 | |
| 610 | 1 | 7 | |a EEC |2 unbisn |
| 610 | 2 | 4 | |a European Economic Community |z Spain |
| 610 | 2 | 7 | |a Europäische Gemeinschaften |0 (DE-588)35439-9 |2 gnd |9 rswk-swf |
| 650 | 7 | |a ECONOMIC CONDITIONS |2 unbist | |
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| 650 | 7 | |a Economische situatie |2 gtt | |
| 650 | 7 | |a Europese integratie |2 gtt | |
| 650 | 7 | |a SPAIN |2 unbist | |
| 650 | 4 | |a Europäische Integration | |
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| 651 | 4 | |a Europa - Relaciones económicas exteriores - España | |
| 651 | 4 | |a Spanien | |
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Datensatz im Suchindex
| _version_ | 1808862933170520064 |
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Contents
Page
Preface vjj
I. Introduction I
II. Opening Up of the Spanish Economy in the Context of
EC Integration 2
Michel Galy
Transition to an Open Economy, 1950 85 2
Autarky 2
Economic Transition, 1960 73 2
Oil Crises Spur Transition to Democracy and Structural Reform 3
Integration into the EC 6
Overview of Main Macroeconomic Developments 6
Impact on Trade and Capital Flows 7
Impact on Inflation 9
Structural Reforms and EC Integration 10
Restructuring and Privatization of Publicly Owned Companies 10
Conclusion 12
III, Financial Liberalization in Spain 13
Gonzalo Pastor
Deregulation of the Banking System 13
Interest Rates 13
Limits to Entry 13
Limits to Branching 14
Segmentation of Institutions 15
Capital Adequacy 15
Investment Coefficients 15
Reserve Requirements 15
Effects of Financial Liberalization 15
Other Aspects of Financial Liberalization 17
Financial Deepening 17
Capital Allocation 17
Bank Concentration 18
Bank Mergers 19
Competition from Foreign Banks 20
Conclusion 20
Appendix: Budgetary Costs of Regulatory Harmonization 21
Box 1. Chronology of Financial Deregulation in Spain, 1969 90 14
Page
IV. External Constraints on Monetary Management 23
Michel Galy
Intervention and Sterilization 23
Intervention and Sterilization in Spain, 1980 89 25
Foreign Exchange Regulations 25
Effectiveness of Capital Controls 26
Conclusion 27
Appendix: A Measure of Foreign Exchange Market Efficiency:
The Case of the Spanish Peseta 28
V. Personal Income Tax Reform 30
Gonzalo Pastor
The Rationale for the Reform 30
Main Changes in Tax Legislation 31
Individual Income Taxation 31
Taxation of Capital Income 32
Issues in the Spanish Tax Reform 34
VI. Fiscal Decentralization in Spain 36
Gonzalo Pastor
The Size and Scope of Regional Governments 36
Instruments of Regional Authority Finance 38
Regional Authorities' Own Taxes and Fees 38
Tax Sharing 38
General Grants 38
Conditional Grants 40
The Intel territorial Compensatory Fund 41
Analysis of the Process of Fiscal Decentralization 42
Autonomy 42
Accountability 43
Equity Between Regions 43
Macroeconomic Effects 44
Conclusion 45
Appendix: Analytical Framework of the New System of General Grants 47
Systemic Restriction 47
Financial Arrangements of Individual Regional Governments 47
Assigned Revenues 47
Assigned Expenditures 47
Regional Government's Net Financing from the State 47
Regional Government's Total Financing 48
The Redistributive Criteria 48
Appendix Sectoral Aspects of Price Rigidities in Spain 49
Thierry Pujol
Sectoral Price and Cost Indicators During the 1980s 49
Import Prices and Domestic Prices 49
Domestic Costs and Output Prices 50
Econometric Analysis of Price and Cost Developments 52
A Simple Model of Price Setting 52
The Results 52
Conclusion 54
Page
Bibliography 55
Tables
Section
II. 1. Tariffs and Indirect Taxes on Imports 4
2. Changes in Spain's Commercial Protection Since EC Membership 8
3. Energy Balance 11
III. 4. EC: Income and Cost Margins of Largest Banks in 1989 16
5. Indicators of the Biggest Banks in the EC During 1987 88 16
6. International Comparisons of Output and Cost in Banking 17
7. Indices of Absolute Concentration of Private Commercial Banks 19
8. Indices of Absolute Concentration of Banking System 19
9. Estimation of Budgetary Gain from Banks' Reserve Requirements and
Investment Coefficients 22
IV. 10. Long Term Capital Flows 26
11. Estimates for the Period May 1986 January 1990 28
12. Estimates for the Period Q3 1980 to Q3 1989 28
V. 13. International Comparison of Marginal Tax Rates for Personal Income
Taxation 32
, 14. Income Tax Rate Schedule for 1992 33
15. Capital Income Taxation in the EC as of March 1990 34
VI. 16. Participation of Different Levels of Government in Total Public
Sector Expenditure 37
17. Participation of Central Government Expenditure in Total Public
Sector Expenditure in Selected Countries 37
18. Total Revenue of Regional Governments 39
Appendix
19. Total CPI and Its Services Component in Selected European
Countries, 1985 89 49
20. Consumption Prices 50
21. Sectoral GDP Deflators 51
22. Import Prices 51
23. Sectoral Price and Cost Developments 51
Charts
Section
II. 1. Growth, Inflation, External Current Account, and Unemployment
Rate 3
2. Fiscal Indicators 4
3. Inflation 7
III. 4. Size of Financial Markets 17
5. Gross Fixed Private Investment 18
Page
IV. 6. Three Month Euro Rate and Domestic Interest Rate 27
V. 7. International Comparisons of Effective Rates for Personal Income
Tax, 1987 31
The following symbols have been used throughout this paper:
. to indicate that data are not available;
— to indicate that the figure is zero or less than half the final digit shown, or that the item
does not exist;
between years or months (e.g., 1991 92 or January June) to indicate the years or
months covered, including the beginning and ending years or months;
/ between years (e.g., 1991/92) to indicate a crop or fiscal (financial) year.
"Billion" means a thousand million.
Minor discrepancies between constituent figures and totals are due to rounding.
The term "country," as used in this paper, does not in all cases refer to a territorial entity
that is a state as understood by international law and practice; the term also covers some
territorial entities that are not states, but for which statistical data are maintained and
provided internationally on a separate and independent basis. |
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| spelling | Spain: converging with the European Community Michel Galy, Gonzalo Pastor, and Thierry Pujol Washington, DC Internat. Monetary Fund 1993 58 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier International Monetary Fund: Occasional paper 101 EEC unbisn European Economic Community Spain Europäische Gemeinschaften (DE-588)35439-9 gnd rswk-swf ECONOMIC CONDITIONS unbist ECONOMIC POLICY unbist Economische situatie gtt Europese integratie gtt SPAIN unbist Europäische Integration Wirtschaft Wirtschaftspolitik Wirtschaftspolitik (DE-588)4066493-4 gnd rswk-swf España - Relaciones económicas exteriores - Europa Europa - Relaciones económicas exteriores - España Spanien Spain Economic conditions 1975- Spain Economic policy Spanien (DE-588)4055964-6 gnd rswk-swf Spanien (DE-588)4055964-6 g Wirtschaftspolitik (DE-588)4066493-4 s Europäische Gemeinschaften (DE-588)35439-9 b DE-604 Galy, Michel Sonstige (DE-588)104394107X oth Pastor, Gonzalo C. Sonstige oth Pujol, Thierry Sonstige oth International Monetary Fund: Occasional paper 101 (DE-604)BV002597241 101 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=005395416&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Spain: converging with the European Community International Monetary Fund: Occasional paper EEC unbisn European Economic Community Spain Europäische Gemeinschaften (DE-588)35439-9 gnd ECONOMIC CONDITIONS unbist ECONOMIC POLICY unbist Economische situatie gtt Europese integratie gtt SPAIN unbist Europäische Integration Wirtschaft Wirtschaftspolitik Wirtschaftspolitik (DE-588)4066493-4 gnd |
| subject_GND | (DE-588)35439-9 (DE-588)4066493-4 (DE-588)4055964-6 |
| title | Spain: converging with the European Community |
| title_auth | Spain: converging with the European Community |
| title_exact_search | Spain: converging with the European Community |
| title_full | Spain: converging with the European Community Michel Galy, Gonzalo Pastor, and Thierry Pujol |
| title_fullStr | Spain: converging with the European Community Michel Galy, Gonzalo Pastor, and Thierry Pujol |
| title_full_unstemmed | Spain: converging with the European Community Michel Galy, Gonzalo Pastor, and Thierry Pujol |
| title_short | Spain: converging with the European Community |
| title_sort | spain converging with the european community |
| topic | EEC unbisn European Economic Community Spain Europäische Gemeinschaften (DE-588)35439-9 gnd ECONOMIC CONDITIONS unbist ECONOMIC POLICY unbist Economische situatie gtt Europese integratie gtt SPAIN unbist Europäische Integration Wirtschaft Wirtschaftspolitik Wirtschaftspolitik (DE-588)4066493-4 gnd |
| topic_facet | EEC European Economic Community Spain Europäische Gemeinschaften ECONOMIC CONDITIONS ECONOMIC POLICY Economische situatie Europese integratie SPAIN Europäische Integration Wirtschaft Wirtschaftspolitik España - Relaciones económicas exteriores - Europa Europa - Relaciones económicas exteriores - España Spanien Spain Economic conditions 1975- Spain Economic policy |
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